Credit-check firm Experian on track for double-digit growth
Information services company Experian has posted organic revenue growth of two per cent for the six months to March 31st 2008.
Group organic revenue rose two per cent in the third quarter and one per cent in the fourth quarter.
Experian, which offers credit-checking services and analysis, said market conditions in the US and UK continued to be challenging as consumer demand for financial products and therefore demand for credit checks dropped.
The company's credit services and marketing services units both experienced a one per cent decline in revenue growth over the period, although this was offset by seven per cent growth gains in its data analysis division, Decision Analytics.
Several acquisitions over the second half - Tallyman, Hitwise, pH Group and N4 Solutions - boosted total revenue growth to 21 per cent.
Don Robert, Experian's chief executive, said: "Experian's strong portfolio of businesses enabled the group to deliver a good second-half performance, despite continuing marketplace challenges in the US and the UK. For the full year, we expect double-digit EBIT growth, unchanged from our previous expectations."
Experian will issue its full year results announcement on May 21st 2008.